Like a Hangover, All that Cures this is Time…
What has happened in crypto land is not necessarily surprising, because it wasn’t to me, it is more annoying, or really bums me out. I truly thought this was going to be the time where adoption was engulfed and crypto really hung in there on a crash, it wasn’t. The cascade of selling has really sent crypto into the depths under MASSIVE OVERHEAD RESISTANCE.
The resistance that now sits at 6000 for the foreseeable future will impact whether you should be LONG (for the long haul) crypto or just out. As long as Bitcoin is below this then there should ONLY be trades and you should not be married to the position. The only good thing about us not holding is I truly believe that this may hopefully be the time alot of these BS coins go to zero and go away and the space can move forward. Many coins have been absolutely murdered and only the ones with utility will survive. Take a look at some of these below…
EOS trading under $3 down from 25+ on some exchanges.
ZRX trading at $0.39 down from $2.80
ZCash trading at $82 down from $800
Monero trading at $57 down from $500+
NEO trading at $7.75 down from $200
Steem trading at $0.34 down from $9
Ethereum trading at $111 down from $1500+
Litecoin trading at $31 down from $350+
And these are coins with SOME UTILITY! This may be the saving grace in the long run because this was bound to happen from the start. The crypto space needed this to happen and we have to weed out the scammers before the space is able to fundamentally develop and continue.
The plan is to ACCUMULATE for the foreseeable future but I am afraid we have along road ahead. TIME and PRICE is what cures corrections…and I am afraid we may have ALOT of time right now.
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CRYPTO SNUFF
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by heyimsnuffles
I agree! Dollar Cost Average for the long term! Most of these listed here are the same I am watching as well as they have some good prospects for adoption and utility.
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Crypto is one of the few "no-brainers" to be investing in right now...truly investing just constantly flooding money in for the long haul.
Fine by me! I rushed with placing fiat into crypto, now it takes longer for me to be able to save up for the next batch of cost-averaging. I have time.